Lyft works on IPO, aims to go public before Uber: report

Ride-hailing company Lyft has started the process for an initial public offering and is targeting March or April for the listing, according to a Bloomberg report citing unnamed sources. The company is making this move in an effort to beat rival Uber to the public markets, the report said. Uber has said it aims for an IPO in 2019.

If investors do their homework they'll find out that many, many current and ex-drivers hate Lyft. Lyft is a terrible company, just as bad or worse than Uber.

Their DF is crap and doesn't work for drivers, only for Lyft -- but I believe that's by design. And because of Lyft's ongoing passive-agressive games and abuse of drivers, many drivers now actively work to sabotage Lyft's reliability.

Lyft pays a sign up bonus of hundreds of dollars according to ads. But it is really $2 or so per ride for some rides in the first 30 days.

In one area/market I am familiar with Lyft rides are very hard to come by for drivers. Some Lyft-only newly onboarded drivers are having trouble grossing $3 an hour now.

Lyft passengers are often extremely ghetto -- and this is due to Lyft taking pre-paid cards and Lyft offering lots of free rides to turds who never rode anything but the bus before Lyft came along offering rides in private cars at bus-like fares.

I expect turnover in many areas to approach 99% before their crappy IPO next year. Maybe this will be an excellent opportunity to short the stock?

NASDAQ 8000 DOW 26,000 and S&P 2900
Who the hell needs a rideshare IPO? When Uber first came around in '08-'09 the Market was at a 13 year low. The S&P was below 700, the DOW below 7500 and the NASDAQ below 1700.

So in the ten years since Uber has been in business they've lost about 70% of investors capital while the markets have gained about 400%.

I would hope that they have ALL of their driver's making at least the minimum wage, in all states (after deducting the cost of the vehicle at .54 cents a mile) prior to that IPO or they are dead in the water.

You can not put out a successful IPO without paying the labor at least the minimum wage. It's not sustainable.

You can not put out a successful IPO without paying the labor at least the minimum wage. It's not sustainable.

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There remains an endless supply of new ants to keep Lyft’s driving force sustainable, and that is the present goal until such time that the future of transportational logistics has morphed into an industry that no longer depends on needing drivers to perform the duties currently required.
You lack vision. Investors are investing in the future. Your ability to make a living today is of little consequence.

But before we talk about now and tomorrow, Bergen and Newcomer report that Lyft lost $606 million against $708 million in net revenue in 2016. Net revenue represents the company’s cut of fares, making it far smaller than the firm’s gross merchandise volume (or ridesharing equivalent metric).

Lyft is in the same boat,

They both know the gig is up and are trying to stuff suitcases full of money before they disappear.

But before we talk about now and tomorrow, Bergen and Newcomer report that Lyft lost $606 million against $708 million in net revenue in 2016. Net revenue represents the company’s cut of fares, making it far smaller than the firm’s gross merchandise volume (or ridesharing equivalent metric).

Lyft is in the same boat,

They both know the gig is up and are trying to stuff suitcases full of money before they disappear.

Having one IPO before the other won't make much difference.

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this is my favorite part of the cycle. the part where the tide recedes and we see everybody is swimming with no shorts on. it's going to be fun to watch when scandals (more of them) start popping up and the finger pointing begins.

this is my favorite part of the cycle. the part where the tide recedes and we see everybody is swimming with no shorts on. it's going to be fun to watch when scandals (more of them) start popping up and the finger pointing begins.

There is no question that the wage and hour laws are going to come into play here. It's just a matter of time and how fast the current and future cases wind their way though the court system. It could take one ruling to make this happen.

If Lyft floats and IPO and ignores this issue, the organizers and promoters could be personally liable for fraud and other damages to the investors when this thing blows up.

Sorry, but it can not be ignored no matter how anyone wants to spin this.

The suckers that have been continually investing in them over the years refused to reign in their spending and to ensure that they have a profitable business model so when the cat is away the mice are gonna play. And they've been pocketing all kinds of money while blowing the rest for years. Last year we saw the exodus of all of the major execs, cashing in their chips. Then we saw a major stock buyout of others over the last year. Next up is to IPO out the rest to a bunch of other suckers....oops, I mean investors. However, I can't really see them getting people to buy their worthless stock in these IPO's unless they really put the propaganda machine into service in the run up to the IPO. We'll see.

How much does Lyft claim to be worth, and how do these companies making money by running an automated app who do not pay for car gas etc all lose money?

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by charging 60 percent less than what they can actually get from pax, which is also less than we get paid, that's how

and they've been doing this for many years now

they are looking to recoup that money by now refusing to pay drivers any more surge in certain markets, looking to push that into more markets, atleast until there is a real backlash that makes drivers stop driving in droves until they put the old arrangement back

The suckers that have been continually investing in them over the years refused to reign in their spending and to ensure that they have a profitable business model so when the cat is away the mice are gonna play. And they've been pocketing all kinds of money while blowing the rest for years. Last year we saw the exodus of all of the major execs, cashing in their chips. Then we saw a major stock buyout of others over the last year. Next up is to IPO out the rest to a bunch of other suckers....oops, I mean investors. However, I can't really see them getting people to buy their worthless stock in these IPO's unless they really put the propaganda machine into service in the run up to the IPO. We'll see.

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The *ONLY* thing uber and lyft have been successful at is propaganda,

Don't count that portion of their business out before they a court order barring advertisements.